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Where Are They Now?

When regulators in Florida shut down the internet-based multilevel scheme known as PRSI, they seized the company's assets and appointed a receiver. Now, the perpetrators of the scheme have scattered. Here is a brief summary of where they are and what they are doing now.

Bill Caudell, CEO, Chairman and Founder of PRSI, is described by adherents as a "visionary" and by law enforcement officials as a

"con man who used smarts, spirituality and salesmanship to create what investigators believe is the largest Internet scam ever: an international pyramid scheme that took $18 million from 60,000 people in just eight months. . ."

According to an article in the Palm Beach Post, Caudell is now living in Idaho, and working for another online business which he owns a part of. Caudell, a former Amway distributor, pleaded guilty to securities fraud in 1993. He agreed to repay $19,000 but still owes over $8,000, according to the court. Caudell received over $350,000 from the scheme before it was shut down, as well as cars and other property. Caudell claims he will not bring PRSI back, regardless of court outcome. However, the initial report of the court-appointed receiver indicates that Caudell also owns Native Echo World Corp., Liv-Ash Holdings Trust, Summit Quest International, Inc. and Global World Management, entities that appear to be at or near the top of the pyramid-type or "spin" structure created by PRSI for purposes of paying commissions.

Joseph Rotunno, aka "Joey Flowers" of the Colombo crime family in New York, has convictions for fraud and loan sharking. Rotunno got nearly $200,000. Rotunno refused to answer questions during a deposition. He was paid by the company under "numerous names," according to court documents.

Ben Tabini, aka "Ben Tobin", received almost $200,000 from the scheme. Tobin refused to answer questions during a deposition.

Salvatore Argento, Vice President. received $97,000. Was the only person authorized to sign on the company bank account.

Gil Gillespie, Caudell's brother-in-law. President of PRSI. Received $262,000 from the scheme. "Gillespie is believed to be the owner of M.S.V.G., Inc., a company that appears near the top of the pyramid-like structure referred to above," according to the receiver.The only defendant who did not invoke the Fifth Amendment and refuse to testify during depositions.

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This page updated May-08-00